Financial Consumer Protection in Microfinance

Overview:

Amid the growing importance of financial consumer protection as a cornerstone of financial inclusion, this program aims to enhance the awareness of microfinance sector employees about the principles of financial consumer protection and their application to ensure the responsible and fair delivery of financial services.

The program is based on the Central Bank of Jordan’s regulations, including guidelines for fair and transparent customer treatment. It seeks to build institutional competencies in protecting client rights, focusing on transparency, responsible pricing, and safeguarding customer information.

Main Topics

Regulatory Framework for Financial Consumer Protection

• Central Bank guidelines on fair and transparent customer treatment.
• The role of regulatory bodies in promoting financial consumer protection.
• Establishing customer complaints resolution units.

Principles of Financial Consumer Protection in Microfinance

• Designing and delivering appropriate financial products.
• Ensuring fairness and transparency in customer interactions.
• Responsible pricing of financial products.

Customer Protection Mechanisms

• Effective complaint and dispute resolution processes.
• Training clients on financial literacy and informed decision-making.
• Safeguarding customer information and ensuring data security.

Transparency and Social Responsibility

• Building trust between financial institutions and customers.
• Providing clear and accurate information about financial products and services.
• The role of financial consumer protection in promoting financial inclusion and sustainable development.

Challenges and Solutions

• Challenges in applying financial consumer protection principles in microfinance.
• Practical solutions to overcome these challenges.
• Local and international success stories and best practices.

Target Audience

• Branch employees and management in microfinance institutions.
• Complaint and customer relations officers.
• Compliance and risk management managers.
• Professionals involved in developing financial products and services.